UBS Fixed Income Executive Goes to Deutsche Bank

Jeffrey Mayer, a senior executive of the fixed-income division of UBS, has been named Deutsche Bank’s head of global markets in North America, according to an internal Deutsche memorandum reviewed by CNBC.

Mayer, who spent 19 years of his career at the defunct Wall Street brokerage Bear Stearns, eventually as co-head of the firm’s powerful bond department, joined UBS in 2008, after Bear’s sale to J.P. Morgan .

At UBS, Mayer was executive chairman of the fixed income, currencies, and commodities business as well as head of complex structured products. Mayer was not immediately available for comment.

In his new capacity at Deutsche, Mayer will report to Anshu Jain, who was named sole head of the German bank’s corporate and investment bank earlier this year. Mayer is Jain’s first major hire since then.